Victory Capital Management Inc. Acquires 6,689 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Victory Capital Management Inc. boosted its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,222 shares of the company’s stock after acquiring an additional 6,689 shares during the quarter. Victory Capital Management Inc. owned approximately 0.21% of Global Medical REIT worth $1,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd acquired a new position in Global Medical REIT during the 2nd quarter worth $100,000. Versor Investments LP bought a new position in Global Medical REIT in the third quarter valued at about $189,000. M&G PLC acquired a new stake in Global Medical REIT in the third quarter worth about $193,000. First Trust Direct Indexing L.P. raised its holdings in Global Medical REIT by 25.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock worth $202,000 after purchasing an additional 4,164 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Global Medical REIT by 90.1% during the 3rd quarter. SG Americas Securities LLC now owns 22,700 shares of the company’s stock valued at $225,000 after purchasing an additional 10,759 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Up 1.8 %

Shares of NYSE:GMRE opened at $8.86 on Tuesday. The company has a 50 day moving average price of $9.32 and a two-hundred day moving average price of $9.24. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $591.85 million, a PE ratio of -442.78, a PEG ratio of 1.50 and a beta of 1.25. Global Medical REIT Inc. has a 52 week low of $7.98 and a 52 week high of $11.59.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The firm had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. During the same quarter in the prior year, the company earned $0.23 EPS. Analysts forecast that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 9.48%. The ex-dividend date of this dividend was Friday, September 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently -4,197.90%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GMRE shares. Berenberg Bank assumed coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They set a “buy” rating and a $11.75 price target for the company. Alliance Global Partners started coverage on Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock.

About Global Medical REIT

Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.